Loan Week, October 31-November 6

A roundup of the latest syndicated loan market news.

Hong Kong

China Mercharts Holdings (Pacific) has obtained a $220 million five-year term loan on a club basis through joint mandated lead arrangers Agricultural Bank of China, Bank of China, BNP Paribas, ING, Mizuho and SMBC.

Proceeds are for refinancing and general working capital requirements of the borrower and its subsidiaries.

CRE Finance (Hong Kong) has signed a $1.2 billion-equivalent term loan on a club basis through mandated lead arrangers Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, DBS, Hang Seng Bank, HSBC, Mizuho, Natixis, OCBC, Rabobank, Societe Generale, SMBC, UOB and Westpac.

The facility is split into a HK$4.3 billion three-year credit and a $179 million three-year tranche, a HK$2.5 billion five-year portion and a $140 million five-year financing.

Proceeds are for refinancing and general corporate funding requirements of the borrower group.

Japan

Arcturus has secured a A$32 million nine-year and three-month term loan through sole bookrunner and mandated lead arranger BNP Paribas.

Syndication saw NTT Finance join in as participant.

Proceeds are to support aircraft financing.

New Zealand

DNZ Property Fund has obtained a NZ$400 million revolver on a club basis through mandated lead arrangers ANZ, BNZ, Commonwealth Bank of Australia and Westpac.

The facility is split into a NZ$200 million three-year portion and a NZ$200 million five-year tranche.

Proceeds are for refinancing purposes.

Ngai Tahu Holdings Corp has completed a NZ$240 million revolver on a club basis through mandated lead arrangers ANZ, BNZ, Commonwealth Bank of Australia and Westpac.

The financing comprises of four NZ$60 million tranches with tenors one, two, three and five years respectively.

Final allocations saw the arrangers commit evenly.

Proceeds are to refinance existing indebtedness.

TR Group has sealed a NZ$260 million three-year revolver through sole bookrunner and mandated lead arranger ASB Bank.

The debt package comprises of a NZ$250 million tranche and a NZ$10 million portion.

Final allocations saw ASB Bank pledge NZ$95 million while Westpac joined in with NZ$80 million as participant. Toyota Finance came in with NZ$40 million while Mercedes-Benz Credit Corp joined in with NZ$30 million. ICBC concluded the syndicate with NZ$15 million.

Proceeds are to refinance existing indebtedness.

Taiwan

Fair Friend Enterprise and Good Friend (HK) Corp have completed a $166 million-equivalent financing through sole bookrunner and mandated lead arranger Bank of Taiwan.

The fundraising comprises of a NT$2.1 billion revolver, a $60 million standby letter of credit and a $36 million revolver.

Syndication saw Mega international commercial bank and Lank Bank of Taiwan join in as arrangers while Chang Hwa Commercial Bank, China Development Industrial Bank and Shanghai Commercial & Savings Bank came in as participants.

Proceeds are to repay existing indebtedness, guarantee and working capital purposes.

Great Smart has sealed a $45 million three-year loan package through bookrunners and mandated lead arrangers E Sun Commercial Bank, Taipei Fubon Commercial Bank and Taishin International Bank.

The deal is divided into a $27 million term loan and a $18 million revolver.

Syndication saw Bank of Taiwan, Chang Hwa Commercial Bank and First Commercial Bank come in at lower tiers.

Proceed are for refinancing and working capital.

Taiwan First Biotechnology has sealed a NT$1.4 billion five-year loan package through sole bookrunner and mandated lead arranger Bank of Taiwan.

The transaction consists of a NT$935 million facility and a NT$465 million credit.

Syndication saw Taiwan Business Bank and Taiwan Cooperative Bank come in as mandated lead arrangers while Bank of Kaohsiung, Chang Hwa Commercial Bank, E Sun Commercial Bank, Hua Nan Commercial Bank and Mega International Commercial Bank joined in as lenders.

Proceed are to repay existing indebtedness.

Thailand

Charoen Pokphand Group has signed a $150 million one-year term loan through sole bookrunner and mandated lead arranger Deutsche Bank.

Final allocations saw the lead provide $95 million while Bank of China joined in with $30 million as lead arranger. Bank of East Asia came in with $25 million.

Proceeds are for general corporate purposes.